Juan Cruz Díaz, managing director of Cefeidas Group in Buenos Aires: “The controversy triggered by Spagnuolo’s audio recordings is the most serious scandal the Milei administration has faced to date. While the veracity of the allegations has yet to be confirmed (the case is currently in the hands of the judiciary), the effects of the leaks have already begun to unfold. Unlike other controversies that have hit the government, this time the Milei administration has been unable to control the narrative or provide a clear and convincing explanation of events. If the case continues to advance with evidence against the government, it could have a negative impact ahead of the October elections, as the controversy undermines one of Milei and La Libertad Avanza’s (LLA) core identity pillars: the promise of bringing a breath of fresh air with newcomers to politics untainted by the old practices of what the president calls ‘the political caste.’ Nevertheless, the most relevant variable for voters ahead of October remains the…”